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City staff to consider clamping down on pay day loan establishments in Greater Sudbury

City staff to consider clamping down on pay day loan establishments in Greater Sudbury

The town of better Sudbury will likely to be having a better glance at clamping down on allowing cash advance establishments to work in the town.

City council voted in preference of a motion brought ahead by Ward 4 Coun. Geoff McCausland Oct. 20 that directs staff to examine its company license bylaw and give consideration to restrictions that are possible cash advance establishments.

The people’ motion brought ahead by McCausland reported that we now have concerns that cash advance establishments are “predatory” and benefit from low-income residents that do not need credit.

They become trapped with debt rounds as consequence of excessive costs charged by these establishments.

The movement additionally says pay day loan establishments tend to be located near painful and sensitive land uses where in actuality the best number of vulnerable citizens live or visit frequently.